China's first yuan-settled LNG trade unloaded from UAE

[beijingwalker]

China's first yuan-settled LNG trade unloaded from UAE
By Zheng Xin | chinadaily.com.cn | Updated: 2023-05-16 19:33

The unloading of China's first cross-border yuan-settled liquefied natural gas trade was successfully completed on Tuesday, operator China National Offshore Oil Corporation said. [Photo/CCTV news]

The unloading of China's first cross-border yuan-settled liquefied natural gas trade was successfully completed on Tuesday, operator China National Offshore Oil Corporation said.

The company said its LNG carrier Marweh, carrying some 65,000 tons of LNG from the United Arab Emirates, finished unloading at the CNOOC Guangdong Dapeng LNG receiving station on Tuesday, marking a substantial step forward in China's exploration of cross-border yuan settlement transactions in oil and gas.

China imported over 500 million tons of crude oil and over 100 million tons of natural gas last year, with LNG imports reaching 63.44 million tons, data from the General Administration of Customs show.

With the increasing acceptance of the yuan in the international market, the conditions for settling oil and gas trades in yuan are becoming increasingly mature, CNOOC said.

http://global.chinadaily.com.cn/a/202305/16/WS646369f3a310b6054fad34c2.html

 

[Song Hong]

Now Petrodollar become PetroYuan.

USD is actually China-Industrial-product-dollar + USA-food-dollar.

US is a big food exporter. Any day when US decide to stop exporting food, many people will die.

Which is the reason why -- I always advocate China should divert Brahmaputera. To be a really strong nation, China need to produce and export lots of food.

 

[MH.Yang]

Now Petrodollar become PetroYuan.

USD is actually China-Industrial-product-dollar + USA-food-dollar.

US is a big food exporter. Any day when US decide to stop exporting food, many people will die.

Which is the reason why -- I always advocate China should divert Brahmaputera. To be a really strong nation, China need to produce and export lots of food.

China's grain production is sufficient to feed all Chinese people. China's grain production is 220% of India's grain production.

If the USA wants to use food to extort the world, we don't mind industrialization of food production. We have seawater rice technology and large-scale soilless planting technology. The first grain factory was born in 2018, with production costs only slightly higher than ordinary grains.

 

[beijingwalker]

China buys a lot of food in the world market and proccesses them into value added packaged food products and resells them in the world market.

 

[Song Hong]

China's grain production is sufficient to feed all Chinese people. China's grain production is 220% of India's grain production.

If the USA wants to use food to extort the world, we don't mind industrialization of food production. We have seawater rice technology and large-scale soilless planting technology. The first grain factory was born in 2018, with production costs only slightly higher than ordinary grains.

China food production can meet the caloric demand.

90% of China soy is imported.

That is to say, China need import to have better nutricient.

 

[MH.Yang]

China food production can meet the caloric demand.

90% of China soy is imported.

That is to say, China need import to have better nutricient.

Yes, we don't eat vegetarian food like Indians do. We need a large amount of soybeans to make feed and edible oil.

But USA is not the only soybean supplier, and Americans cannot use soybeans to blackmail us.